Independent Mortgage Advice

Providing Independent Mortgage Advice throughout Guisborough, Teesside and the North East for 25 years, we have the experience to make a difference and to save you money.

As Independent Advisers, we are not restricted to a particular lender when advising you. We can draw on information from the whole marketplace, which can change on a daily basis. There has also never been a more important time to take independent advice on your mortgage than now. In the current 'Credit Crunch' climate, you cannot simply rely upon your existing High Street Lender to provide you with the best mortgage available. It is also vital to fully understand the terms of the product you are applying for and therefore our role is not just to find you the 'cheapest' product, but to find you the most suitable, and for the best price. This is something you do not get over the internet or telephone.

For most people, choosing the right mortgage will be one of the most important financial decisions they ever make. That's why our clients trust us to assist them year after year.

 No matter what your circumstances, we will endeavour to find a mortgage to suit you.

Residential Mortgages

A mortgage can be taken out against a property you wish to purchase or a property you own that you wish to raise money against.  We can facilitate all mortgage types and advise with an independent view from the whole mortgage market.

Buy to Let & Commercial Mortgages

If you intend to buy a property for renting then you will need a buy to let mortgage. The buy to let mortgage will normally be secured against the property to be let. Typically, you’ll need to pay a deposit of around 25% of the value of the property.

The amount you can borrow is strongly linked to the amount of rental income you might expect to receive.  Normally, the lender will require you to be receiving more rental income per month than your mortgage payment costs you.  How much more is required is defined in the lenders criteria.  This is to allow surplus rent to cover other costs such as maintenance to the property and periods when there are no tenants living in the property.

The Financial Services Authority does not regulate commercial mortgages and some aspects of buy-to-let mortgages.

Remortgages

Whether it is a remortgage to obtain a better rate of interest, remortgaging onto a fixed interest rate product or remortgaging to raise additional capital against your home, we can offer independent advice from the whole of the mortgage market, ensuring our clients have the best and most suitable product.

Fee free remortgages

Free legal services

Free valuation

No arrangement fees

Adverse, Sub-Prime, Bad Credit, Arrears or CCJ's

A subprime borrower means you do not fit the mould of the regular borrower.  You might have debts or you might have a colourful financial past.  Should you have had bad credit, CCJs, arrears or had late payments on any of your commitments this will affect your chances of getting a mortgage or affect the type of mortgage and the interest rate charged.  We can offer a full review of your mortgage options taking into consideration your credit commitments and payment history.

The actual rate available will depend upon your circumstances.  Ask for a personalised illustration.

Debt Consolidation

As the name implies, a debt consolidation loan entails procuring one new loan in which to pay off several smaller ones. While some may not see the purpose in doing so, there are a great many reasons why a debt consolidation loan will be a smart move for many that are not currently thrilled with their debt situation.

You can gain a lower interest rate than one you are currently paying. In many instances, it is high interest rates that can prevent you from paying off your loans. Transferring your debt to a lower interest rate loan can have a tremendous impact on your ability to pay off your debt.

Paying one monthly minimum payment is a lot better than having to pay several. Taking a debt consolidation loans results in only having one payment to make. This can leave you with more liquidity for your monthly budget. 

Consolidating your short term commitments onto a mortgage of usually a longer term can reduce your monthly outgoings in the short term, however, you will be end up paying interest on the debt for a lot longer, therefore paying more interest overall.

The actual rate available will depend upon your circumstances.  Ask for a personalised illustration.

Lifetime Mortgages & Equity Release

A lifetime mortgage is a loan secured against your home. There are no regular repayments to make and the loan and interest are rolled up and usually repaid when you die or go into long-term care.

What are the benefits of a lifetime mortgage?

You receive a cash lump sum to spend on whatever you want.

You retain ownership of your home and can continue to live there until you die or go into long-term care.

You don't have to make any monthly repayments during the lifetime of the loan, as the loan and interest are rolled up and repaid by the sale of your property when the plan ends. This is normally when you die, or move into long-term care.

You can still move if you want to, as long as your new property meets the conditions at the time.

A 'no negative equity' guarantee means neither you nor your estate will have to pay back more than your home is sold for, as long as this is for the best price possible.

What are the disadvantages of a lifetime mortgage?

If you start it whilst young and live a long time, the loan and accumulated interest on a roll up Lifetime Mortgage may represent a significant percentage of your home's value, especially if property prices do not increase. However, should you not require the maximum amount available for your age/s it is possible to protect a certain percentage of your property

The loan and interest accumulated on a roll up scheme will reduce what your family inherit.

As the interest is not repaid until you die, on a Lifetime Roll Up Mortgage the interest rate is higher than ordinary mortgages.

If you take the maximum release whilst relatively young and spend all of the money released, you may not be able to borrow further money to provide for yourself later in life

Lifetime mortgages involve borrowing against your home and may work out more expensive in the long term than downsizing to a smaller property, and may affect your entitlement to State benefits and grants.

We can offer advice on lifetime mortgages and assist in releasing equity from your property without having to make any repayments.

We only recommend a product from the lenders that are part of SHIP (Safe Home Income Plans).

This is a lifetime mortgage or home reversion plan.  To understand the features and risks, ask for a personalised illustration.

Deposits, Equity & Loan to Value

Deposit means the amount of money you personally have to put towards the property value or purchase price.  Mortgages are available to applicants with a variety of deposits.  Depending on market conditions it may be possible to obtain a 100% mortgage therefore requiring no deposit, however the more deposit you have will determine the interest rate that is charged.  You will be charged more by lenders if you have less deposit.

We have access to the whole market and offer independent advice on all mortgage products, varying deposits and interest rates.

Equity is the difference between the value of your home and any outstanding mortgage you currently have.

The loan-to-value (LTV) expresses the amount of a mortgage as a percentage of the total value of your property.  For instance, if a borrower wants £150,000 to purchase a house worth £250,000, the LTV is 60%.

Our Mortgage Calculators below offer a free and simple way of finding out how much a mortgage may cost:

Repayment Mortgage Calculator...
Interest Only Mortgage Calculator...
Repayment v Interest Only Mortgage Calculator...
Investment Mortgage Calculator...

For further information or advice on any of the above, please contact us today where one of our Independent Advisers will be on hand to help.

Email: enquiries@activefinancialservices.co.uk Phone: 0845 555 0 888

There may be a fee for all aspects of Mortgage Advice above, the precise amount of the fee will depend upon your circumstances but we estimate that it will be £250. A maximum fee of 1% may be charged should you choose for Active to be paid in this way, and not by way of commission from the lender. Fees charged dependent on your circumstances. A full statement of our fees is fully disclosed to you in our Initial Disclosure Document before any advice is given. A copy of this is available on request. Your home is at risk if you do not keep up repayments on a mortgage or other loans secured on it.

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